Reply
Member
valtamirano
Posts: 6
Registered: ‎10-08-2013
0

Re: Should I go for an AMEX Blue Cash

So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?
EQ - 794 (09/30/13) FICO
TU - 765 (CreditKarma)
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Should I go for an AMEX Blue Cash


valtamirano wrote:
So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?

If you hold a balance, especially a high one, it will hurt your score for the time that balance is reporting.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Frequent Contributor
Pat94108
Posts: 394
Registered: ‎03-23-2013
0

Re: Should I go for an AMEX Blue Cash

Congratulations. I never thought you'd be denied. Welcome to AMEX.

Senior Contributor
B335is
Posts: 4,668
Registered: ‎09-22-2012
0

Re: Should I go for an AMEX Blue Cash

Congratulations, I knew you would get it!  Use your card heavily, pay in full, don't app for any other cards and you should get that 3x CLI no problem.

Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
0

Re: Should I go for an AMEX Blue Cash


enharu wrote:

valtamirano wrote:
So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?

If you hold a balance, especially a high one, it will hurt your score for the time that balance is reporting.

 


That's true but if you're not planning on apping for anything else, it's not such a big deal that your score gets dinged while you're taking advantage of the 0% apr. It sounds like your scores are already pretty good to begin with. But there are those who are a bit obsessive about not losing a single point regardless of them apping for anything. At the same time, not telling you to max out your new card either! Also, if you're carrying a balance, it may affect whether you get the full 3x CLI on day 61.


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Established Contributor
knoregs
Posts: 574
Registered: ‎06-04-2012
0

Re: Should I go for an AMEX Blue Cash


valtamirano wrote:
So today was the 24 hour mark so I went online and check the status of my application. As it turns out, I was approved for S5,200. I'm very happy with this credit limit and especially more excited when I can ask for the three times credit limit increase.

There is one question however, since I do get a 15 month 0 percent APR intro rate, will I be able to hold a balance during the promotion time without damaging my credit score?

Congrats!

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Member
valtamirano
Posts: 6
Registered: ‎10-08-2013
0

Re: Should I go for an AMEX Blue Cash

Thanks to all who helped me out, much appreciated. :smileyhappy:

 

I'm very good when it comes to spending and planning big purchases, so I won't be maintaining a huge balance. Since I run the chance of affecting my odds of getting a 3x CLI, I figured I will hold off on any spending that will carry a balance until I make that CLI request.

 

On the meantime, I'll be using this card for gas and all other expenses.

EQ - 794 (09/30/13) FICO
TU - 765 (CreditKarma)
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Should I go for an AMEX Blue Cash

Welcome to Amex!!!! I'm lovin' my BCE!
It has fabulous rewards, one of the best- although of course there are naysayers!
Two tips:
1. Amex doesn't like long term balance carrying (even I keep this one pif!) Take advantage of the 0%, but I wouldn't have util > 20%
2. Get the 3xcli, which would be $15,600, after the 61st day or around there.

ENJOY!!


Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Super Contributor
mongstradamus
Posts: 7,474
Registered: ‎06-19-2013
0

Re: Should I go for an AMEX Blue Cash


youngandcreditwrthy wrote:
Welcome to Amex!!!! I'm lovin' my BCE!
It has fabulous rewards, one of the best- although of course there are naysayers!
Two tips:
1. Amex doesn't like long term balance carrying (even I keep this one pif!) Take advantage of the 0%, but I wouldn't have util > 20%
2. Get the 3xcli, which would be $15,600, after the 61st day or around there.

ENJOY!!



On my BCP i am trying to pull in full and keep util low at all times, in case they soft pull me in middle of statement cycle. Want to have best chances for my CLI in december. 


EX Fico 782 9/25/14 Fako 801 CS/Credit.com 11/24/14
EQ SW 823 quizzle fako 796 7/19/14
TU Fico 808 Fako 796 Creditkarma 12/24/2014
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Should I go for an AMEX Blue Cash

I pif'ed my first and second statements to get the first 3xcli too.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}